Chip Flowers, running against incumbent Treasurer Velda Jones-Potter for the Democratic nomination, said the office should instate an early warning system to alert policymakers of gathering economic storm clouds.
Flower, speaking at an Aug. 23 candidates forum in Hockessin that Jones-Potter did not attend, said that having good data is paramount to preventing future recessions.
“But that data is no good in the hands of myself and other people in government,” he said. “It needs to go out to the people.”
The auditor can also help spot things like housing bubbles before they get close to bursting, said auditor candidate Ken Matlusky, running against Richard Korn for the Democratic Party’s nomination. Korn also did not attend the forum.
The bad banking that caused our current recession was preventable, Matluksy said, and the state auditor has a responsibility to ask the legislature to enact stricter rules on Delaware banks to rein in out-of-control practices.
“We don’t have the power of kings to say ‘you have to do this,’ but we can give advice and, hopefully, they will take our advice,” Matlusky said.
Driving out fraud and waste is vital to promoting economic prosperity, too, he said, and the auditor’s office needs to take a more proactive role in protecting whistleblowers.
The treasurer needs to be more proactive, too, Flowers said. When the state of Delaware strikes deals with corporations, like Fisker Automotive, the treasurer’s office needs to be engaged to ensure all plans are fiscally responsible.
The winner of the Sept. 14 primary for treasurer will face off against Republican Colin Bonini in the Nov. 2 General Election, while the winning Democratic auditor candidate will face Republican incumbent Thomas Wagner.
